FAQ S. What does HTR do? We put together racing syndicates i.e. small groups of people to share in a number of horses.

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FAQ S What does HTR do? We put together racing syndicates i.e. small groups of people to share in a number of horses. How many people are there in each syndicate?

John is one of the most respected bloodstock agents in the world and is also bloodstock adviser to Her Majesty The Queen.

1 FAQ S What does HTR do? We put together racing syndicates i.e. small groups of people to share in a number of horses. How many people are there in each syndicate? This varies, usually from 10 to a maximum of 20 people. Who buys the horses? John Warren buys the majority of HTR s horses alongside HTR s founder, Harry Herbert. John is one of the most respected bloodstock agents in the world and is also bloodstock adviser to Her Majesty The Queen. Harry Herbert and John Warren studying yearlings just before they enter the sale ring How successful have John and Harry been? Extremely. HTR has raced seven champions and has consistently been the leading syndicate company since In 2010, Harbinger became the world s highest rated flat horse after winning the King George VI & Queen Elizabeth Stakes in record time. Previously, Motivator, who was bought by John and managed by HTR for the Royal Ascot Racing Club, won the 2005 Vodafone Derby. How many Royal Ascot winners have HTR had? Ten and counting. Many more than any other multiownership company, all of which have contributed to an amazing win/placed strike rate at the Royal Meeting of 40% from 79 runners. Highclere s first Royal Ascot winner: Heritage, trained by John Gosden and ridden by Frankie Dettori, lands the King George V Handicap How much does a share cost? This differs from syndicate to syndicate but generally ranges from 6,000 up to 50,000.

When are the new syndicates launched? In June of each year. Most shares are sold before our Yearling Parades which take place in mid-october at Highclere Stud.

Do HTR buy proven horses? Yes, especially for our operations in Australia and the US. What does the price of a share include?

2 When are the new syndicates launched? In June of each year. Most shares are sold before our Yearling Parades which take place in mid-october at Highclere Stud. Harry, John and Jake attend all the major European sales each year Does HTR buy horses at the breeze-up sales? Harry, John and Jake attend all the major European Breeze-up sales in April and May. Do HTR buy proven horses? Yes, especially for our operations in Australia and the US. What does the price of a share include? The price of a share covers all expenses including the purchase and training of the horses until the end of their two-year-old career. This includes vet bills, entry fees, transport etc. A smaller additional sum, which is clearly stated on the agreement form, is due for their costs as a three-year-old. How long do the horses race? Most of HTR s horses are sold by the end of their threeyear-old careers. Some are kept to race as four-year-olds, provided it is thought that they can increase their capital values and win good prize money. (This is different for the National Hunt horses). Can owners see their horses being trained? Yes. HTR organises regular stable visits to Newmarket, where owners are able to stay at the historic Jockey Club Rooms, and to other trainers around the UK. If owners are unable to attend these visits we can arrange other days to fit in with their plans. The Jockey Club Rooms, Newmarket

3 How do I know when my horse is running? Owners are kept fully informed as to the progress and running plans of their bloodstock. Horses are entered five days prior to the race and declared 48 hours before race day (24 hours for National Hunt horses). Owners will be ed at the entry stage and then called by phone once the horse has been declared. What happens on race day? HTR organises for two owner badges to be collected from the owners entrance, which will give access to the paddock before the race. What makes HTR different to other multiple ownership groups? The consistent success of our horses at the highest level combined with a highly personal and professional service to our owners. How is HTR remunerated? We take a management fee charged on each share. This can vary from syndicate to syndicate but is clearly stated on the agreement form. The company also takes 10% of the sales price of any horse selling for more than twice its purchase price. Tamarisk, sold to Coolmoore Stud for 3,400,000 What is the most money that an HTR managed horse has sold for? In 2010, Harbinger was sold to stand at stud in Japan for a multi-million dollar figure. Previously, Petrushka was sold to Sheikh Mohammed in 2001 for a then world record $5,250,000. Other significant sales include Motivator ( 6,000,000) Tamarisk ( 3,400,000), Lake Coniston ( 2,500,000) and Highest ( 1,700,000).

The Royal Ascot Racing Club greet their hero, Motivator, in the Epsom winner s circle Carriages arriving at the opening of the Royal Meeting Has HTR ever won a Classic race? Yes.

Previously, Petrushka won The Kildangan Stud Irish Oaks in 2000 and became the first ever syndicate owned Classic winner.

4 The Royal Ascot Racing Club greet their hero, Motivator, in the Epsom winner s circle Carriages arriving at the opening of the Royal Meeting Has HTR ever won a Classic race? Yes. Motivator, who was bought by John Warren for the Royal Ascot Racing Club and managed by HTR, won The 2005 Vodafone Derby. Previously, Petrushka won The Kildangan Stud Irish Oaks in 2000 and became the first ever syndicate owned Classic winner. Horses managed by Highclere have now won or been placed in all five of the English Classics. Why join an HTR syndicate versus racing my own horse? The short answer is that it will be more fun, more cost-effective and will give you a far greater chance of racing success at the highest level. It currently costs over 30,000 a year to train, insure, travel and vet one horse. For less money than it costs to train one horse for one year, a Highclere owner can enjoy two 100,000 guineas animals with all training fees paid through to the end of their three-year-old career. In addition, the average price of a yearling in the 2016 Tattersalls October Book 2 Sale was 65,359 guineas. What is HTR s involvement with the Royal Ascot Racing Club? The Royal Ascot Racing Club was launched in The Club s horses are managed by HTR and have enjoyed considerable successes with Brancaster (Horris Hill Stakes (Gr. 3)), Bannister (Gimcrack (Gr. 2)), Pollenator (May Hill Stakes (Gr. 2)) and Graphic (Prix Messidor (Gr. 3)). Most significantly, the Club triumphed with Motivator in The Vodafone Derby (Gr. 1) at Epsom in Motivator also won both the Racing Post Trophy (Gr. 1) at Doncaster in 2004 and The Totesport Dante Stakes (Gr. 2) at York in 2005.

Do Highclere run any syndicates outside of the UK? Yes. Highclere currently have syndicates operating in America, Australia, France and Ireland. Does HTR operate National Hunt Syndicates? Yes, we do.

5 Do Highclere run any syndicates outside of the UK? Yes. Highclere currently have syndicates operating in America, Australia, France and Ireland. Does HTR operate National Hunt Syndicates? Yes, we do. HTR has a number of National Hunt horses with a selection of the top trainers. New syndicates are launched throughout the year. Whatduhavtoget in full flight at Cheltenham What happens at the end of the life of a Syndicate? Once all the horses are sold, the syndicate is wound up and the accounts reviewed by the auditors. Any surplus of income over expenditure is distributed to the shareowners. In the unlikely event of a deficit any additional cost is borne by HTR thereby ensuring that no further calls for funds are ever made. Would I have to pay tax if I make a profit on my share? No. Racehorse ownership in the UK is outside the scope of taxation as it is deemed a hobby. Should I regard my involvement with Highclere as an investment? Absolutely not. Each shareowner acknowledges that participation in the syndicates is for the purpose of sharing in the enjoyment of the horses and NOT FOR INVESTMENT.

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